Word: goldmans
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...corporate earnings will hold up in the face of Asia's spreading ills. A quick scan of Wall Street illustrates the debate. At Paine Webber, chief strategist Ed Kerschner holds the rosy view that stocks "have not been this cheap since October 1990." Chief guru Abby Cohen at Goldman Sachs similarly says, "Stocks are trading at undervalued levels." But at Morgan Stanley Dean Witter, chief strategist Barton Biggs insists that "we are either in or on the verge of a bear market." And the wily investor Larry Tisch at Loews Corp. just reconfirmed a massive options bet on lower prices...
...fiftysomething, opted for an upfront lump sum of $161.5 million rather than the jackpot total spread out in payments over 25 years. That entitles each of them to $12.4 million pretax dollars--or the equivalent of a try-harder-next-year Christmas bonus for high-level bankers at Goldman Sachs. All the Lucky 13 remained anonymous, except John Jarrell, a 34-year-old father of three, who told reporters that one of his first purchases will be a Harley-Davidson for his wife that will match...
...afford not to invest in the powerful trend toward people's shopping, at incredibly low prices, from the convenience of their homes? That was the pitch I used back when I was a broker at Goldman Sachs, and since that was in 1986-87, I wasn't hawking the Internet but rather an outfit called Home Shopping Network, which peddled stuff on TV and took orders by phone. Its stock had gone from 18 to 133 in the time it takes to say "cubic zirconium," and I thought it could only go higher. Instead, it suffered the most brutal, protracted...
...Angeles legal newspaper, the Daily Journal, claims O.J. Simpson will appeal last year's civil-case decision against him. Simpson, who was cleared by a criminal jury, lost the wrongful death suit in civil court for the murders of his ex-wife Nicole Brown Simpson and her friend Ron Goldman. Simpson, says the Journal, will attempt to have the $33 million judgment against him overturned, or at least reduced. His lawyers filed their papers Thursday, saying the jury acted out of malice and prejudice. Fred Goldman, father of Ron, said he will fight any such move...
...students at the other tables. Most are 10 years younger, from more privileged backgrounds. When Zhong was their age, in the late 1980s, there was no way a peasant's son from rural China could have contemplated hopping between jobs, getting an education and applying for a job with "Goldman Sachs or Citicorp," as Zhong hopes to do. Today, with the economic reform being pressed by Zhu Rongji, the new Premier, the Chinese dream knows no limits. "Making money has become the thing to do in China; people judge you by how wealthy you are," says Zhong...